In 2012, Clinton Tackitt, 43, received a $1.5 million SBA 7(a) loan from Guaranty Bank for his company, Allied Roofing Systems.

The problem is he failed to tell the bank he was was delinquent in paying $262,066 in payroll taxes that he collected from his employees. He also failed to pay over the employer’s share of FICA taxes, which total $395,699.

The company closed its doors in December 2013.

Tackitt pled guilty to two counts of bank fraud.

“He admitted the loan application he submitted to Guaranty Bank was false and incomplete. Tackitt failed to disclose all of his financial debts as required and failed to truthfully disclose an accurate financial status of his company or a complete listing of the debts he and his business owed, in that the company was heavily in debt and was about to claim bankruptcy. Tackitt also failed to disclose that a third party assisted him in the preparation and presentation of the application,” say the Feds.